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Gold Poised For Worst Weekly Dip As Dollar Strengthens

Published 05/22/2015, 01:35 AM
Updated 10/09/2023, 09:27 AM

Gold Poised For Worst Weekly Dip as Dollar Strengthens

Gold held steady just above $1,200 an ounce on Friday, remaining on course for its steepest weekly decline in four weeks as the dollar regained momentum, hurting the metal's safe-haven appeal.
Spot gold was little changed at $1,207.01 an ounce by 0048 GMT, after dropping 0.3 percent in the previous session.
The metal is down 1.4 percent for the week, its biggest drop since the week that ended on April 24.
The dollar has gained over 2 percent against a basket of major currencies this week, snapping a five-week losing streak, despite some losses on Thursday.

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